Halliburton (NYSE:HAL) Given New $49.00 Price Target at Rothschild & Co Redburn

Halliburton (NYSE:HAL) had its price target upped by Rothschild & Co Redburn from $40.00 to $49.00 in a report released on Friday morning,MarketScreener reports. The brokerage currently has a buy rating on the oilfield services company’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a $47.00 target price on shares of Halliburton in a research report on Sunday, April 26th. Susquehanna increased their target price on shares of Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Wall Street Zen downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Evercore raised shares of Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, March 20th. Finally, Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $37.00 to $55.00 in a research report on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $42.45.

Halliburton Trading Up 1.0%

NYSE HAL opened at $41.71 on Friday. The company has a 50-day moving average of $38.24 and a 200-day moving average of $33.12. The company has a market cap of $34.85 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.81 and a beta of 0.73. Halliburton has a 12 month low of $19.38 and a 12 month high of $42.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities analysts predict that Halliburton will post 2.32 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, March 4th. Halliburton’s dividend payout ratio is currently 37.36%.

Insider Activity at Halliburton

In other news, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the transaction, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,488 shares of company stock worth $8,789,305. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently made changes to their positions in HAL. Capital Research Global Investors boosted its stake in shares of Halliburton by 81.8% during the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after buying an additional 40,969,139 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after buying an additional 29,735,387 shares during the last quarter. Strive Asset Management LLC purchased a new position in shares of Halliburton during the 3rd quarter valued at approximately $418,738,000. Norges Bank purchased a new position in shares of Halliburton during the 4th quarter valued at approximately $169,304,000. Finally, Holocene Advisors LP purchased a new position in shares of Halliburton during the 3rd quarter valued at approximately $147,315,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.